Rate Hikes and Rising Yields, ADP Jobs and EIA Data
By Geoffrey Smith
Investing.com — Energy prices feed inflation concerns and inflation concerns feed interest rate hikes and falling stock markets. The pattern was established in Europe overnight and is expected to continue when U.S. markets open. ADP will report its private-sector hiring report two days ahead of the key official labor market report for September. Constellation Brands (NYSE:) reports earnings and Warby Parker has a lot to live up to after a strong debut. Here’s what you need to know in financial markets on Wednesday. 6th October.
1. Europe inflation worries drive yields higher, stocks lower
Stagflation worries ripped through European bond and stock markets overnight as prices for and power marked fresh highs. The yield on the benchmark bond rose as high as -0.16%, its highest since May, while its rose to 1.13%, the highest in over two…